Probably the least complicated tax law. Increase taxes to increase revenue. Makes sense. Align valuations with reality while maintaining relatively constant absolute tax dollar amounts. Also makes sense. It's really not that hard.
Probably the least complicated tax law. Increase taxes to increase revenue. Makes sense. Align valuations with reality while maintaining relatively constant absolute tax dollar amounts. Also makes sense. It's really not that hard.
>Probably the least complicated tax law. Increase taxes to increase revenue. Makes sense.
Not so fast.
1) It is complicated. It has progressives rates that start out higher for 2 years then decreases but coincides with how the base is calculated.
2) The budget projections assumes no behavioral changes from the taxed residents. This doesn't seem like a safe assumption. You should at least assume some amount of the tax base leaves since it disincentives 2nd properties.
This doesnt mean its a bad plan. But it's definitely not the least complicated tax law. I'd say thats more like sales tax or something.
1) A bit of hyperbole on my part but consider that minimum wages and other worker benefits have worked like this for a long time. They tend to ramp up.
2) good. The more people who are in the city the more actual sales tax and other revenue is generated.